Barclays booked a stronger than expected 19% increase in first-quarter profit on Wednesday, as trading activity surged in the early months of U.S. President Donald Trump's tenure and the bank made progress on boosting its share of the lucrative UK lending market.

Barclays Plc’s equity traders delivered their best quarterly haul for nearly three years on the back of recent market turbulence, helping the bank beat earnings estimates as it upgraded some of its guidance for the year.